Spurred by rising energy demand, majors and independents alike ramped up ambitious exploration and production (E&P) growth plans in the mid-1990s, but in the end, virtually none have yet cleared their upstream “highbars,” according to a new study co-authored by consultants John S. Herold Inc. and London-based Harrison Lovegrove & Co.
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Wiser’s Wild River Ramps Up Gas Production
Dallas-based Wiser Oil Co. has ramped up initial natural gas production at its Wild River operations in Alberta, and said that combined gross production rates are averaging 14-15 MMcf/d. The company estimates that gross production on balance will average 9-10 MMcf/d for the rest of this year.
‘Strong’ Possibility Production Will Rise with Gas Prices
There is a “strong” possibility that exploration and production (E&P) companies are timing ramped up production with expected higher natural gas prices later this year, according to Raymond James’ energy analysts. Analysts Marshall Adkins and James M. Rollyson had expected the ramp up to occur earlier in the year because of price increases this spring, but a “number of factors” has led to a delay and probably a “serious catch-up” phase later this year and throughout 2003.
Raymond James: E&Ps to Play ‘Serious Catch-Up’ through 2003
There is a “strong” possibility that exploration and production (E&P) companies are timing ramped-up production to hit with the expected higher natural gas prices later this year, according to Raymond James’ Energy’s “Stat of the Week.” Analysts Marshall Adkins and James M. Rollyson had earlier predicted an earlier ramp-up because of the rise in prices over the spring, but a “number of factors” has led to an unexpected stagnation that will lead to “serious catch-up” later this year and throughout 2003.
Raymond James: E&Ps to Play ‘Serious Catch-Up’ through 2003
There is a “strong” possibility that exploration and production (E&P) companies are timing ramped-up production to hit with the expected higher natural gas prices later this year, according to Raymond James’ Energy’s “Stat of the Week.” Analysts Marshall Adkins and James M. Rollyson had earlier predicted an earlier ramp-up because of the rise in prices over the spring, but a “number of factors” has led to an unexpected stagnation that will lead to “serious catch-up” later this year and throughout 2003.